Iran favors higher Trade with Bulgaria

Iran’s Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh has expressed hope that the level of Trade and economic cooperation between Iran and Bulgaria would increase after the two countries set up a joint business council.

Nematzadeh made the remarks in a meeting with Bulgarian Transport, Information Technology and Communications Minister Ivaylo Moskovski in Tehran.

“Carrying out joint investments particularly by the two countries’ private sectors could be conducive to expanding cooperation,” he said.

Nematzadeh said energy-rich Iran has managed to win advantages in the manufacturing of a series of products.

“Grounds for cooperation with Bulgaria can be in the manufacturing of products like petrochemicals and derivatives, metal products (steel and copper), building materials (glass) and electric equipment (cables and cooling and heating facilities, railway equipment, locomotive, wagon),” he said.

“The economic officials in both Iran and Bulgaria can draw up a roadmap in different economic sectors agreed upon by both countries,” added Nematzadeh.

Noting that Iran faces no restrictions for international cooperation in economy, industry, mining and Trade, the minister said: “We are interested in starting a new chapter in industrial and Trade cooperation with Bulgaria.”

“One of our country’s priorities is establishment of road connection through Caucasus to Bulgaria and other European countries. Detailed negotiations must be held in this regard,” Nematzadeh said.

He said Iran has recently held talks with European countries like France, Italy and Germany for the construction of wagons, adding: “In case of willingness on the part of Bulgaria, this country can offer its proposals for the construction of wagons as well as cranes, lifts, diesel-fuelled engines and renewable energies.”

For his part, Moskovski said efforts are under way for upgrading the level of Trade between the two countries.

He said that the potentialities needed for a new chapter in cooperation between Iran and Bulgaria must be examined following reciprocal visits by Iranian and Bulgarian academic delegates.

“In Bulgaria, mineral reserves and advanced mining industry activities are significant and that provides fresh grounds for the continuation of economic cooperation with the Islamic Republic of Iran,” said Moskovski.

“By enhancing the level of Trade ties, we hope that the transactions will exceed one billion dollars next year. That is achievable through the establishment of joint industrial and Trade chambers,” he said.

The Bulgarian minister also expressed interest in cooperation with Iran in railway, transportation and wagon building. He also expressed hope that cooperation between the two countries will be enhanced with the resolution of banking issues.